Silicone Market Overview in South Korea
The size of the silicone market in South Korea dropped to $ in 2019, declining by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a notable increase from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2012 indices. The most prominent rate of growth was recorded in 2013 when the market value increased by % year-to-year. South Korea consumption peaked at $ in 2018, and then dropped in the following year.